KMPH - KemPharm to earn service fee for supporting FDA approval of dementia therapy

KemPharm (NASDAQ:KMPH), a maker of prodrugs, announced on Wednesday that the company would receive a $1.975 million fee from Corium Inc. following the U.S. approval of ADLARITY, a treatment for dementia of Alzheimer's type.   The U.S. Food and Drug Administration (FDA) cleared Corium’s product also known as donepezil transdermal system, last week. According to a master development services agreement, KemPharm (KMPH) has provided development and regulatory services to Corium for the resubmission of its New Drug Application for ADLARITY. The company is expected to receive the fee within 30 days of the FDA approval. “We are pleased to have been able to assist Corium in obtaining FDA approval of ADLARITY, and we congratulate them on this significant achievement,” Chief Executive of KemPharm (KMPH) Travis C. Mickle remarked. Read: In December, KemPharm (KMPH) was added to the NASDAQ Biotechnology Index.

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KemPharm to earn service fee for supporting FDA approval of dementia therapy